Hitachi Energy buys power equipment manufacturer COET
COET, an Italian company based near Milan, specialises in designing and manufacturing power equipment for electric mobility, rail, and industry. Hitachi says the two companies have a “long-standing collaboration focused on Hitachi Energy’s portfolio of Grid-eMotion high-power charging infrastructure solutions.” Grid-eMotion focuses on charging infrastructure for electric bus and truck fleets and has already been deployed in countries such as Australia, Canada, Dubai, France, Germany, Italy, Sweden, Switzerland, and the UK.
As reported in 2020, the Grid-eMotion Fleet consists of standard containers which contain all grid connection and charging systems. Depending on the configuration, the charging capacity ranges from 50 to 600 kW, and various pantograph chargers are possible in addition to wired CCS charging.
The acquisition was completed at the end of December 2023. The companies received regulatory approval following a purchase agreement signed in August last year. Hitachi writes that even after the takeover, COET will operate as a standalone business. All of management and the approximately 80 employees will keep their jobs.
“We are delighted to welcome our partner of many years into the Hitachi Energy family,” said Niklas Persson, Managing Director of Hitachi Energy’s Grid Integration business. “The acquisition will enhance our position as a global leader in power grid technologies and energy infrastructure for eMobility, transport, and industry, while COET and its customers will benefit greatly from our global footprint and power expertise.”
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